Wall Street analysts forecast that Orbotech Ltd. (NASDAQ:ORBK) will report $234.53 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Orbotech’s earnings, with the highest sales estimate coming in at $235.39 million and the lowest estimate coming in at $233.60 million. Orbotech reported sales of $204.95 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, November 1st.

On average, analysts expect that Orbotech will report full year sales of $234.53 million for the current fiscal year, with estimates ranging from $865.70 million to $869.95 million. For the next year, analysts forecast that the business will post sales of $937.54 million per share, with estimates ranging from $912.19 million to $965.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Orbotech.

Orbotech (NASDAQ:ORBK) last issued its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. The business had revenue of $210.66 million during the quarter, compared to the consensus estimate of $205.20 million. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share.

Several analysts have recently commented on ORBK shares. Zacks Investment Research cut shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. BidaskClub cut shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Stifel Nicolaus started coverage on shares of Orbotech in a research note on Thursday, August 31st. They issued a “buy” rating and a $46.00 target price for the company. Finally, Jefferies Group LLC restated a “buy” rating and issued a $42.00 target price on shares of Orbotech in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.88.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Orbotech by 1.3% in the second quarter. Renaissance Technologies LLC now owns 2,353,000 shares of the electronics maker’s stock valued at $76,755,000 after purchasing an additional 30,700 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Orbotech by 40.6% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,001,779 shares of the electronics maker’s stock valued at $65,298,000 after purchasing an additional 577,756 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Orbotech by 58.1% in the second quarter. Ameriprise Financial Inc. now owns 1,692,486 shares of the electronics maker’s stock valued at $55,209,000 after purchasing an additional 622,014 shares during the period. FMR LLC lifted its stake in shares of Orbotech by 8.8% in the first quarter. FMR LLC now owns 1,490,733 shares of the electronics maker’s stock valued at $48,076,000 after purchasing an additional 120,871 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Orbotech by 12.9% in the second quarter. Lord Abbett & CO. LLC now owns 1,286,535 shares of the electronics maker’s stock valued at $41,967,000 after purchasing an additional 147,031 shares during the period. Hedge funds and other institutional investors own 69.88% of the company’s stock.

Orbotech (NASDAQ:ORBK) opened at 42.96 on Thursday. Orbotech has a 12 month low of $26.83 and a 12 month high of $43.45. The firm has a 50 day moving average of $41.25 and a 200-day moving average of $36.28. The firm has a market cap of $2.06 billion, a P/E ratio of 23.06 and a beta of 0.79.

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Orbotech Company Profile

Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.

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